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Search Results 0 to 12 of about 13 (some duplicates have been removed)
, no progress whatsoever. and in fact, the treasury department said that the government on monday will hit the limit of how much money we can borrow to run the government. they're going to do some extraordinary measures to keep us running to february. but things look grim. the one sliver of good news i can say on the substance is, the speaker's office tells me this morning there has been contact between the speaker of the house and the president, at least on the staff level. and they won't say whether or not the two men actually spoke. >> contact. hazahs all around. what do we really mean? >> reporter: everybody will see their taxes go up. here's three examples. you have a teacher with two kids making $43,000 a year. taxes will go up by $3,000. a member of congress, they make $174,000 a year. their taxes will go up just next year, $7,500. and lebron james, the guy made about $53 million last year. his taxes, just next year, would go up $2.4 million. >> ouch. >> reporter: poor lebron. >> indeed. we say it's five days away. but the idea is, we can't get this done if they reach a deal 15 minu
up early into the new year over raising the debt ceiling because the federal government is once again reaching the limit of how much money can be borrowed. once again facing the possibility of the united states defaulting on its debts and, you know, last time that led to a downgrade, credit downgrade. certainly not good news for the economy. >> we lurch from one crisis to the next. there's also talk about a dairy cliff involving our milk prices going up. is this real? is this likely to happen? >> isn't this great? dan, if congress does not act by tomorrow, your milk prices could in fact double by the way, cheese prices, as well. but once again, we believe that the congress will come up with some kind of a solution on this at least a temporary one, but, again, down to the wire they need to pass a farm bill or at least a temporary farm bill to prevent those milk prices from going up. >> d.c. forcing tax increases and lactose intolerance on america this morning. jon by the way has a big show. senators chuck schumer and jon kyl on "this week." a lot of news developing overnight. we go to
it say? it says that we don't have just an ideological divide. we have a crisis of self-government right now. to be real clear about it. this is a time bomb that congress set. nobody wants to see frustration cuts. but that's the stick they put to their own head as a way of compelling a deal to get done. and a deal doesn't get done. we're not even aiming for the grand bargain that is necessary to reduce long-term deficits and debt. we're going to get a patch and be here again in two months. congress can't get out of its own way. we keep setting our own traps. >> john, we appreciate the clarity, even if it's depressing. thank you very much. >>> a lot of other news developing overnight. for that, let's check in, as always, with mr. ron claiborne. >> hi, dan, bianna. we begin in australia, with a confrontation with a shark. it cost a surfer two fingers and a chunk of his leg. the 29-year-old was surrounded by a pod of dolphins when the shark attacked yesterday. >> my legs. >> and witnesses say the man used his surfboard to fight off the shark. but the shark bit off two of his fingers. >>> an
of charge. >> reporter: the government indicted golden hands' owner, on 50 counts, including extortion and theft. >> you can get off the property now. >> reporter: for "good morning america," elisabeth leamy, abc news, washington. >> now, the attorney for the company's owner told us, mr. leaven is a small businessman who feels he did the best work he could under the confusing regulations and difficult circumstances and deadlines. but those pictures, that video, speaks volumes. >> it certainly does, about many things. >>> time, now, for another look at the weather. and our sam champion. samuel? >> we've been concentrating on the middle of the country, the east coast. let's now look west, folks. this has been a very snowy time period, as well. start with these pictures near the tahoe area. seven feet of snow since friday. six resorts have had snow depths of over 100 inches in the west. it is gorgeous, though. we have two brand-new systems moving in. this is going to create a little bit of a mess as they move across the country. they have cold air in the middle of the country to go with i
about running off the fiscal cliff. the deadline for preventing tax hikes and government spending cuts is just one week from today. the president and congress return to washington later this week. it's likely they'll work right to new year's eve. one possibility is striking a deal on taxes but leaving the spending for later. >>> overseas now, where an american has been killed by an afghan policewoman. the attack took place at police head quarters in kabul. where there have been similar insider attacks, this is the first time a female security officer has been involved. >>> the nra is not backing away from its call for armed officers in our nation's schools. and the group vows to fight any effort by congress to strengthen gun control laws. now congressman chris murphy, whose district includes newtown, calls the stance "tone deaf and revolting." >>> a real christmas gift, it would be getting to where you're going on time today. storms are causing major travel trouble throughout the nation. it's not only trying to get through snow-covered roads. rain and wind are grounding flights in the
Search Results 0 to 12 of about 13 (some duplicates have been removed)